ConsenSys announced that MetaMask users increased. Which suggests that it would be associated with the rise of DeFi.
The cryptocurrency wallet MetaMask, has grown at a good rate and has reported the latest milestone in users and monthly transactions. MetaMask, the Ethereum wallet owned by ConsenSys, has surpassed 5 million monthly active users. The fact suggests that it is associated with the DeFi boom.
On April 27, ConsenSys, the software solutions company for Ethereum, revealed in an article that the wallet has increased fivefold over the past six months. In October 2020, MetaMask surpassed 1 million monthly active users on its browser extension and mobile app.
About six months later, it has seen meteoric growth, with five million monthly active users. The report added that a large number of such users use the wallet’s built-in token exchange feature. That it has registered more than 2 billion dollars in accumulated transaction volume during the last six months.
ConsenSys attributed much of this new adoption to more and more people living in the southern hemisphere using cryptocurrencies. Global South is a term used to describe emerging economies in Asia, Africa, and South America.
MetaMask growth is associated with DeFi
The report also attributed user growth to increased interest in DeFi and non-fungible tokens. He noted that the recent craze for non-fungible tokens (NFTs) has drawn a wider audience to the Ethereum ecosystem.
In terms of their top markets, India and Indonesia are among the top five countries for MetaMask mobile adoption. ConsenSys said, adding that Vietnam and Nigeria are in the top 10.
“Increasingly, these people are using MetaMask for supplemental income or for long-term investments.” Said the signature. “Many cannot access their local banking system and therefore need alternative technology to act as a savings account.”
MetaMask was launched in 2016 and, until 2019, it had only been available as a desktop browser extension. MetaMask began rolling out mobile apps for closed beta testing in 2019. Followed by its official public release for iOS and Android in September 2020.
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BSC-based DeFi platform Uranium Finance loses $ 50 million after hack
Uranium Finance, a decentralized finance platform (DeFi) based on Binance Smart Chain (BSC), reported having suffered a hack that resulted in the loss of $ 50 million.
In a tweet posted Wednesday, the automated market making (AMM) platform revealed that the hacking attack was targeting its v2.1 token migration event. The Uranium team asked users to report the hack to Binance. With the aim of preventing funds from changing blockchain.
Uranium migration has been compromised, the following address has $ 50 million in it. The only thing that matters is keeping the funds in BSC. Everyone please start tweeting this address to Binance immediately asking them to stop transfers.
The DeFi protocol also reported that it was in contact with the Binance security team to mitigate the situation. In the same thread of tweets, they asked the hackers to contact the platform to “reach an agreement” before the situation “becomes greater.
ETH Price Rises Following News of European Investment Bank’s $ 121 Million Digital Bond
Ether (ETH) prices soared to a new all-time high on Wednesday thanks to positive news from the European Investment Bank.
The price of Ether rose above $ 2,709 early in the day on Wednesday in Asia, marking a new maximum price for the asset, according to various media. The move has brought ETH’s market capitalization to a record $ 312 billion.
Although there are a number of factors driving the price of Ether, Reuters today attributes this to the news that the European Investment Bank will launch a sale of ‘digital bonds’ using the Ethereum network.
The EIB is going to issue a two-year digital bond worth 100 million euros ($ 120.8 million), and the sale will be led by Goldman Sachs, Banco Santander and Societe Generale. According to Bloomberg analysts.